The key to the future
Explore car loans from Bank of Baroda
Amount of Loan
salaried person 20 times of Gross salary, Self Employed person 2.50times of gross annual income as per BURS Return.
New vehicle- 85% of the cost of vehicle, Old vehicle; 70% of the cost of vehicle
Lease agreement of the vehicle to be purchased and an undertaking from employer to remit the installments and noting of our Financial interest with Transport authorities in case of tie up arrangements.
Maximum 60 months for new vehicle and 36 as per old vehicle
(a) Deductions not to exceed 60% of the total salary
(b) For Individuals salary account with us for 6 months
(c) For Corporate business account with us
(d) Salary account not necessary in case of tie up arrangement
Processing charges-0.50% minP300, Documentation Charges P300